Business description: Icade

Icade is both a commercial real estate company (assets at 12/31/2025: EUR 6.1 billion, including 100% ownership and joint-venture interests) and a property developer (net sales in 2025: EUR 1.1 billion), operating throughout France. As a long-term partner, Icade responds to changing needs and puts climate issues and the preservation of biodiversity at the heart of its business model, reinventing real estate and contributing to a more sustainable city.

Listed (SIIC) on Euronext Paris, Icade's main shareholder is the Caisse des Dépôts group.

Number of employees: 981

Sales by Activity: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Property Development

94Cr 107.71Cr 113.92Cr 121.41Cr 112.79Cr

Property Investment

41Cr 40Cr 52Cr 38Cr 35Cr

Healthcare Property Investment Business

32Cr 36Cr - - -

Intersegment Transactions and Other Items

-1.55Cr -1.76Cr 13L -10L -21L

Unallocated Adjustment for Property Development Joint Ventures

- - - -18Cr -14Cr

Geographical breakdown of sales: Icade

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

France

164.8Cr 182.96Cr 152.47Cr 141.23Cr 133.69Cr

Executive Committee: Icade

Manager TitleAgeSince
Chief Executive Officer 44 21/04/2023
Director of Finance/CFO 60 07/04/2025
Chief Tech/Sci/R&D Officer - 01/07/2024
Compliance Officer 56 01/01/2018
Corporate Secretary - 29/06/2026

Composition of the Board of Directors: Icade

Director TitleAgeSince
Director/Board Member 63 31/05/2011
Director/Board Member 69 23/05/2016
Director/Board Member 52 24/04/2019
Director/Board Member 68 06/10/2020
Director/Board Member 61 17/10/2019
Director/Board Member 56 20/10/2023
Director/Board Member 54 06/12/2023
Director/Board Member - 19/04/2024
Director/Board Member 61 20/10/2023
Chairman 65 10/06/2026

Shareholders: Icade

NameStocks%Valuation
Government of France
39.2 %
2,98,85,071 39.2 % 490 M €
Predica Prévoyance Dialogue du Crédit Agricole SA (Invt Port)
18.85 %
1,43,73,960 18.85 % 236 M €
Goldman Sachs International (Invt Mgmt)
4.156 %
31,68,333 4.156 % 52 M €
2.241 %
17,08,418 2.241 % 28 M €
Icade Employee Stock Ownership Plan
0.5532 %
4,21,722 0.5532 % 7 M €

Holdings: Icade

NameStocks%Valuation
ICADE
0.54%
4,08,4660.54% 7 M $

Company details: Icade

Icade SA

Tour Hyfive

92074, Paris

+33 1 41 57 70 00

http://www.icade.fr
address Icade(ICAD)

Group companies: Icade

NameCategory and Sector
Quinconces Activites SCI
Real Estate Development
Real Estate Development
Silky Way SCI
Stratège SCI

Diversified REITs

Change 5-day change 1-year change 3-year change Capi.($)
-0.59%-2.94%-29.31%-52.15% 126.89Cr
+1.12%+0.95%-2.77%+23.05% 1.51TCr
+0.86%+3.54%+8.50%+16.03% 765.04Cr
-2.30%-1.54%-6.76%+33.16% 662.16Cr
+0.54%-0.68%-9.75%+24.30% 611.92Cr
+0.46%+1.11%+9.40%+36.28% 590.28Cr
+0.11%+0.69%-2.27%+8.36% 585.68Cr
+0.93%-1.14%-20.29%-32.61% 532.86Cr
0.00%-1.02%-14.16%+0.52% 518.48Cr
+2.14%+1.08%+18.24%+35.29% 461.03Cr
Average +0.33%+0.01%-4.92%+9.22% 637Cr
Weighted average by Cap. +0.46%+0.43%-2.73%+16.15%
Trader
Investor
Global
Quality
ESG MSCI
AAA
MarketScreener Ratings - Icade
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
15.17EUR
Average target price
18.45EUR
Spread / Average Target
+21.59%

Quarterly revenue - Rate of surprise

Rate of surprise - Net sales - Quarterly - Icade